Global Weight Control Products Market to Reach US$46.9 Billion by 2015 - Analysts
Though the demand for the products that help in reducing and managing weight continues to soar in the country, the US retains the distinction of being home to the world’s largest population of overweight and obese individuals, both in number and proportion.
2/8/2011 --- Obesity is on the rise at an alarming rate worldwide, both among adults as well as children, and is rapidly reaching epidemic proportions leading to huge healthcare costs and burden for the individual as well as for the economy of a country. Statistics reveal that about 1.6 billion people globally are overweight or obese, with the US accounting for the highest percentage of that population. Presently, around 70% of the US population is either obese or overweight. Health costs incurred by the overweight Americans alone is projected to reach US$117 billion per year by the year 2015.
The epidemic proportions of obesity and its related illnesses have over the past few years thrown the spotlight on weight control products. Weight control and weight loss have become a part of life for a large percentage of the population in developed countries. With the calorie rich diets of the cash strapped economies making the battle against the bulges fiercer, there exists lucrative opportunities for weight control and weight loss products, and this is the key reason for the weight control products market to resist global economic crisis, and continue its growth momentum. Busier, yet sedentary lifestyles, and consumption of less nutritious and high caloric food are major reasons for the dramatic increase in global obese population. Diet management has thus emerged as a challenging proposition for millions of people worldwide. While many manage to lose weight, very few are able to control the same beyond a few years and most people regain the weight lost. Although intensive efforts are required to lose weight, not many realize that weight control is equally important and similar effort is needed for controlling weight.
The US dominates the world market for Weight Control Products, as stated by the new market research report on Weight Control Products. Though the demand for the products that help in reducing and managing weight continues to soar in the country, the US retains the distinction of being home to the world’s largest population of overweight and obese individuals, both in number and proportion. This is the key factor fueling growth for weight control products in the US. Almost nine in ten American households use Low fat foods, while an estimated 85% consume low calorie products. Most people are increasing consumption of low calorie foods. Obesity and overweight issues have also been pestering several countries across Europe as well. Within Europe, the UK, Germany, and Finland have the highest proportion of overweight and obese people.
Obesity rates is also increasing at an alarming rate in developing countries, with rapid urbanization and related lifestyle changes blamed for the overweight and obesity issues. Wide range of weight management products, and weight management plans are increasingly becoming accessible to consumers, which in conjunction with education and awareness efforts, are fuelling a desire in an increasing number of obese/overweight people to cut excess weight in developing countries. The growing demand for weight control products and diet foods is an important indicator of awareness about the trend towards controlling obesity. The market for weight control products in Asia-Pacific is projected to grow at a CAGR of more than 7.0% over the analysis period.
Recent trends in consumer preferences indicate growing inclination of consumers towards weight management products enriched with functional ingredients, and foods and beverages providing satiety. Consumer’s today demand weight loss products with quick results, and the development and introduction of satiety products is clearly in this direction. Protein and fiber are core satiety ingredients typically used in satiety products, which are known for their ability to boost the person's willpower and enhance the feeling of fullness for longer duration. Majority of the products launched on satiety platform are based on fibres and protein combination, or products with high fiber content or protein content. Another key market trend is the alarming number of children suffering from obesity. Manufacturers are getting their act together to attract the attention of kids through catchy advertisements and mind-boggling varieties of tastes, and flavors. Child obesity is widely prevalent in the United States, Europe, Australia, and China. It is little wonder that the global market is inundated with new products featuring tangy flavors, targeting this lucrative audience.
Major players profiled in the report include Abbott Laboratories, EAS Inc., Abbott Nutrition, The Coca-Cola Co., Genisoy Food Company Inc., HJ Heinz, Idea Sphere Inc., Twinlab Corp., Kraft Foods Inc., Mead Johnson Nutritionals, Nestle SA, PepsiCo Inc., Rexall Sundown Inc., The Groupe Danone, Unilever, Slim-Fast Foods Co., Schiff Nutrition International Inc., among others.
The research report titled "Weight Control Products: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the weight control products markets, impact of the recession on the market, key statistical facts on obesity, current market trends, major growth drivers, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for weight control products market for the years 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific and Rest of World. Key product segments analyzed include Low-Fat & Fat-Free Dairy Products, Carbonated and Other Liquids, Light Foods, Prepared Intakes, Herbal Supplements, and Dressings. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
